Ecuadorian President Guillermo Lasso (pictured) said his country reached a free trade agreement with Costa Rica that will be beneficial for agribusiness and for manufacturing in Ecuador.
The two parties are expected to ink the deal in the first quarter of 2023, following a legal review, the government in Quito noted. It said that the agreement will allow preferential access for 96% of Ecuador’s current exports to Costa Rica, highlighting mainly products from the manufacturing sector.
Trade between Costa Rica and Ecuador in 2021 exceeded $74.6 million, of which $49.8 million were exports from Costa Rica and $24.8 from Ecuador, according to official data.